Retirement Commission - Minutes - 01/08/2020

WATERFORD RETIREMENT COMMISSION
MEETING MINUTES
WEDNESDAY, JANUARY 8, 2020, 5:00PM
Members Present: William Auwood, Marcia Benvenuti, Susan Driscoll, Bruce Miller,
Richard Muckle, Kevin Petchark, First Selectman Robert Brule
1. Call to Order ,
In his role as Temporary Chair for the first meeting of the newly appointed
Retirement Commission, First Selectman Robert Brule established a quorum and
called the meeting to order at 5 p.m.
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Members Absent: None =
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Staff Present: Maryellen McConnell, Secretary s
Others: None =
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2. Election of a Chairperson
Following discussion of the Chair’s duties, Temporary Chair Brule opened the
floor for nominations. Motion by Kevin Petchark and seconded by Bill Auwood
to elect Susan Driscoll as the Commission Chair for the current term.
VOTE: 5 Yes Abstain: (Brule and Driscoll} Motion Passed
3. Approval of Minutes
Regular Meeting — November 13, 2019
Motion by Rich Muckle and seconded by Bill Auwood to approve the minutes of
the November 13, 2019, Regular Meeting as presented.
VOTE: 4 Yes; 3 Abstain_ Abstain: (Petchark, Benvenuti, Driscoll)
Motion Passed

Retirement Commission Minutes, 1/8/2020
Page 2
4. Review and note the budget for FY2021:
a. Richard Muckle would like an explanation as to why there was a 12%
living increase to the H&H (heart and hypertension) contract.
b. Projected 2019/2020 wages — how did they reach this total? !t seems a
2.5% increase based on contributions rules from the state.
c. An actuary suggested that we increase our contribution by $600,000,
however; that was not met.
d. Avery large concern is why is there names of retired employees listed on
the retiree healthcare cost budget?
e. The Retirement Commission would like to invite Bill Sheehan and a
representative from Wells Fargo to go over the above concerns with
them.
5. Old Business: None.
6. Correspondence: No discussion.
7. Adjournment
There being no further business to come before this Commission, motion made
by Bruce Miller, seconded by Rich Muckle to adjourn.
Vote: Unanimous. Meeting adjourned at 5:30 pm.
Respectfully submitted,
Susan Driscoll MaryellehMicConnell
Chair Recording Secretary